Copper futures gain 0.60% on spot demand, global cues

Copper prices rose 0.60 per cent to Rs 420.60 per kg in futures trade today as speculators enlarged positions amid pick-up in demand from consuming industries and a firming global trend.
At the Multi Commodity Exchange, copper for delivery in February next year gained Rs 2.50, or 0.60 per cent, to Rs 420.60 per kg in a business turnover of 798 lots.
Similarly, the metal for delivery in current month gained Rs 2.35, or 0.57 per cent, to Rs 414.90 per kg in 15,025 lots.
Market analysts said the rise in copper prices at futures trade was mostly in line with a firming trend in base metals at the London Metal Exchange (LME) as speculators enlarged their positions.

Meanwhile, copper for delivery in three months traded 0.20 per cent higher at USD 6,680 a metric tonne at the LME while in Shanghai the metal advanced 0.20 per cent to 47,580 yuan ($7,768) per tonne.